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    Govt to soon announce high-level panel on 'Banking for Viksit Bharat'
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August 17, 2026
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Banking sector review panel will align future growth with financial stability, inclusion and consumer protection through government recommendations.
High Level Committee on Banking for Viksit Bharat is proposed to comprehensively review the banking sector and align it with India's next phase of growth. It is intended to safeguard financial stability, financial inclusion and consumer protection, while providing views and recommendations to the Government on banking-sector development and reform.
August 17, 2026
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Prime Minister Internship Scheme enhances youth employability through paid industry exposure, cross-field learning, workplace readiness and potential full-time employment.
The Prime Minister Internship Scheme provides paid internships with leading companies across India to improve youth employability through practical workplace exposure, industry experience and skills development. It addresses the gap between classroom learning and employers' expectations of workplace readiness. Participation is not confined to academic qualifications, allowing youth to pursue fields of interest and gain hands-on professional learning. Strong internship performance may lead to full-time roles, while the scheme stresses responsible work where errors may affect quality, consumer safety and organisational reputation.
August 17, 2026
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SAFTA origin fraud in areca imports allegedly enabled improper duty exemption through false Bangladeshi-origin declarations.
SAFTA preferential duty treatment for areca-nut imports was allegedly misused by falsely declaring goods originating in South-East Asian countries as Bangladeshi origin. Since areca nuts normally attract 100% basic customs duty, the scheme sought to obtain the full SAFTA exemption reserved for qualifying Bangladeshi goods meeting Rules of Origin requirements. The alleged mechanism included routing goods through Bangladesh, changing containers and bags, using improperly obtained Certificates of Origin, and facilitating clearance through importers, Customs Brokers and IEC holders. Investigative findings also indicated cash proceeds, hawala channels and dummy entities.
August 17, 2026
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FCNR(B) concessional swap facility closure may reduce temporary foreign-currency inflow support and heighten rupee weakness concerns.
The Reserve Bank of India restricted its concessional swap facility for FCNR(B) deposits to deposits mobilised by August 31, advancing the earlier cut-off date. The facility was intended to encourage foreign-currency inflows, while banks mobilise such deposits through attractive interest rates. Market commentary indicated that existing inflows may support the rupee in the near term, but the curtailed availability of the facility could reduce this temporary cushion and increase depreciation risk.
August 16, 2026
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Temporary tariff suspension for earthquake recovery is sought to ease pressure on affected Colombian businesses.
Temporary suspension of high tariffs on Colombian products has been sought to support business recovery following a severe earthquake declared a natural disaster. The request links tariff relief to economic disruption affecting businesses amid extensive destruction, injuries and missing persons. United States emergency assistance has been provided through food, shelter and health supplies, while no response to the tariff-suspension request had been reported.
August 16, 2026
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Port-led industrial development and direct export operations aim to expand logistics infrastructure, market access and trade connectivity.
Mission Samudra is proposed as a port-led industrial and logistics development programme linked to the commencement of export-import operations at Vizhinjam seaport. It covers industrial clusters, new cities, port connectivity, logistics, development initiatives, programme management and capacity building. Direct export shipments are intended to improve overseas-market access and reduce transit time and logistics costs, particularly for small and medium enterprises. The framework also anticipates growth in warehousing, cold storage, container freight stations and logistics parks, supported by private participation and road and rail connectivity.
August 16, 2026
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Electric vehicle export diversification strengthens India's presence across European, Asia-Pacific and Latin American markets through expanding overseas demand.
India's electric motor car exports expanded sharply in the first quarter of 2026-27, reflecting increased international acceptance and competitiveness of India-manufactured electric vehicles. Europe became the principal export destination, led by Spain and the United Kingdom, with further demand across several European markets. Exports also reached Asia-Pacific markets, Nepal and emerging Latin American destinations. This wider market presence reflects improving quality and safety standards, stronger integration into global electric-vehicle supply chains, and diversification of India's electric-vehicle export profile.
August 16, 2026
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LPG production preparedness requires refiners and upstream producers to maintain capacity and increase output during supply constraints.
Government has established a standing LPG production preparedness framework under which refining companies, oil marketing companies and upstream producers may be directed to increase production during supply constraints. Companies must maintain adequate LPG storage, evacuation and transportation infrastructure and pursue technically and economically feasible production-enhancing measures. Written directions may prescribe production quantities and periods, including restrictions on alternative uses of input streams required for LPG. The production schedule is updated twice yearly to reflect new facilities and added capacity from infrastructure, technology and distribution improvements.
August 16, 2026
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Free trade agreement market access requires MSMEs, farmers and exporters to meet global quality standards.
Free trade agreements expand market-access opportunities for Indian MSMEs, exporters and producers through reduced or eliminated import duties on traded goods. Textiles, machinery, medicines, seafood and agricultural products can access international markets where they meet global standards and remain competitively priced. Farmers and producers are encouraged to develop export-oriented products, including chemical-free agricultural produce, while MSMEs may use preferential trade access to support manufacturing, exports, employment and growth.
August 15, 2026
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Chemical-free farming can strengthen agricultural exports by meeting global standards and responding to rising international demand.
Chemical-free farming is urged to meet growing global demand and expand agricultural exports. Agricultural products must meet global parameters to facilitate access to international markets, including markets opened through free trade agreements. Food processing, export-oriented farm production, and global branding of traditional cuisine, millets, spices, fruits and flowers are identified as important elements of agriculture and food production policy.
August 15, 2026
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Voluntary foreign asset disclosure allows eligible taxpayers to regularise overseas holdings with immunity from further tax, penalties and prosecution.
FAST-DS permits eligible taxpayers to disclose specified undisclosed foreign assets, foreign income, and foreign assets omitted from return schedules. Undisclosed assets or income not previously offered to tax may be declared up to Rs 1 crore on payment of an effective 60 per cent levy, based on fair market value as of 31 March 2026. Assets already offered to tax, or acquired during non-resident status but omitted from the return schedule, may be declared up to Rs 5 crore on payment of a fee. Valid declarations provide immunity from further tax, penalty and prosecution, while declared amounts are excluded from total income.
August 15, 2026
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Global pharmaceutical leadership is urged through Indian firms achieving top-five status, supported by generic manufacturing and export capacity.
Indian pharmaceutical companies are urged to attain representation among the world's five leading pharmaceutical firms, despite India's established position as a major producer of generic medicines. India has a broad manufacturing base, supplies generic medicines across numerous therapeutic categories, and exports to worldwide markets including highly regulated jurisdictions. Although pharmaceutical exports and the domestic market have expanded, Indian firms have not yet secured positions among the largest global companies. Greater international scale may be supported through acquisitions and expanded established-brand and branded-generic operations.
August 15, 2026
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Foreign asset voluntary disclosure permits eligible small taxpayers to regularise qualifying assets through tax, additional levy, and statutory immunity.
FAST-DS permits eligible small taxpayers to voluntarily disclose specified foreign assets or foreign income. It covers undisclosed foreign assets or income not offered to tax, subject to an aggregate value threshold of Rs 1 crore, and certain foreign assets omitted from the relevant return schedule, subject to a Rs 5 crore threshold and prescribed fee. Payment comprises 30 per cent tax and an additional equal amount. Disclosed income or investment is excluded from total income, with immunity from further tax, penalty and prosecution under the Black Money Act for the disclosed asset or income.
August 15, 2026
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Free trade agreement opportunities require MSMEs to meet global standards and expand exports across textiles, machinery, medicines and seafood.
Free trade agreements are presented as export-market opportunities for Indian MSMEs because they reduce or eliminate import duties on a substantial range of traded goods. MSMEs are urged to expand exports of textiles, machinery, medicines and seafood, including shrimp, by meeting global quality standards and offering products competitively. Their export role is linked to self-reliance and their significant contribution to manufacturing, exports, GDP and employment.
August 15, 2026
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Windfall gains tax on petroleum exports was reduced to support domestic fuel availability and limit export price advantages.
Special additional excise duty (windfall gains tax) on exports of petrol, diesel and aviation turbine fuel was reduced from 15 August 2026. Petrol export duty was reduced to nil, and export-duty rates on diesel and ATF were lowered. Duty rates for petrol and diesel cleared for domestic consumption remained unchanged. The export-duty framework seeks to maintain domestic petroleum-product availability and limit export advantages arising from higher global crude oil prices amid West Asia tensions.
August 15, 2026
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Energy self-reliance drives diversified fuel sourcing, expanded offshore exploration, and domestic capacity to reduce geopolitical supply vulnerability.
Energy security policy seeks to reduce exposure to geopolitical pressure and supply disruption caused by dependence on overseas fuel and strategic maritime routes. India is diversifying crude oil and LNG sourcing while strengthening domestic hydrocarbon production through offshore exploration, seismic surveys, exploratory drilling and shared infrastructure. Expanded access to sedimentary basins is intended to unlock domestic oil and gas resources. Wider piped natural gas coverage, solar generation, critical-mineral exploration, and nuclear and other non-fossil energy sources support the broader objective of energy self-reliance.
August 14, 2026
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Current account deficit widened as merchandise trade imbalance expanded, despite stronger services surplus, transfers, and positive capital inflows.
India's current account deficit widened in June 2026, principally because merchandise imports increased faster than exports and expanded the merchandise trade deficit. A higher services surplus, increased net transfers and a narrower net income deficit provided partial offsets. Net capital inflows, including foreign direct investment and foreign portfolio investment, supported a positive overall monthly balance. During the April-June quarter, despite increased services surplus and net transfers, the overall balance shifted to a deficit as the merchandise trade deficit widened.
August 14, 2026
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Concessional foreign-currency swap facility closes early for new FCNR(B) deposits while ECB and OFCB access remains available.
The concessional swap facility for FCNR(B) deposits encourages foreign-currency inflows and supports foreign-exchange liquidity. New FCNR(B) deposits eligible for the facility must be mobilised by 31 August 2026, while swaps for eligible deposits may be availed until 11 September 2026. The swap arrangement for External Commercial Borrowings and Overseas Foreign Currency Borrowings remains available until 31 December 2026.
August 14, 2026
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Insurance grievance redressal requires initial insurer complaint, prompt acknowledgement, and escalation through integrated monitoring channels when resolution remains unsatisfactory.
Insurance policyholder grievances must first be raised with the concerned insurer, whose Grievance Redressal Officer and Board-level monitoring committee oversee redressal. Complaints received through digital channels, correspondence or call centres are recorded in the insurer's Complaints Management System, integrated with Bima Bharosa. Insurers must acknowledge complaints immediately and resolve them within 14 days. Where no response is received within a reasonable period or the response is unsatisfactory, policyholders may escalate through Bima Bharosa or designated helplines, email or physical correspondence.
August 14, 2026
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Foreign exchange reserve growth reflects increases in foreign currency assets, gold holdings, special drawing rights, and IMF reserve position.
India's foreign exchange reserves rose to USD 707.002 billion for the week ended 7 August 2026. The increase comprised higher foreign currency assets, gold reserves, special drawing rights and the reserve position with the IMF. Foreign currency asset valuation incorporates appreciation or depreciation of non-US currencies held in reserve assets. Measures including the FCNR(B) scheme were introduced to attract additional foreign exchange inflows.

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10 Icons Who Inspire Change: A Celebration of Vision, Commitment & Legacy

October 3, 2025

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Unveiled by Kiteskraft Productions LLP CHANDIGARH, India, Oct. 3, 2025 /PRNewswire/ -- Kiteskraft Productions LLP proudly honors ten exceptional people whose vision, dedication, and innovation are transforming India's educational landscape. More than teachers, they are mentors and changemakers—nurturing creativity, critical thinking, and social responsibility among students. Through their tireless efforts in academics, leadership, and community impact, these icons inspire generations to dream big and achieve more. This recognition celebrates their enduring legacy as true architects of progress and guiding lights for the nation's future. Avinash Shende and Sachin Pande: Pioneering Digital Finance with VGIL Avinash Shende and Sachin Pande, visionary leaders of Virtual Galaxy Infotech Limited (VGIL), have redefined fintech with cutting-edge AI-powered solutions in core banking, digital payments, ERP, and e-Governance. Founded in 1997, VGIL has steadily expanded across India and Africa, empowering financial institutions through innovation, efficiency, and inclusion. Its flagship products, E-Banker and V-Pay, have earned industry acclaim for transforming digital banking and payment ecosystems. As VGIL transitions into a public limited company, its leadership continues to champion emerging technologies, data-driven solutions, and customer-centric services. With nearly three decades of expertise and global presence, VGIL remains at the forefront of digital transformation, shaping the future of finance through innovation, scalability, and trust. Bhishma Madhani: Bhishma Madhani is a visionary fitness entrepreneur and internationally trained strength and conditioning coach whose mission blends elite sport with nation-building. With a B.Sc. in Sports and Exercise Science from London and now pursuing an M.Sc. in Sports Directorship, he combines scientific expertise with strategic leadership. His career includes coaching roles at Lord's Cricket Ground and Watford FC's U-19 team in England, shaping his world-class approach. Choosing service over comfort, he returned to India to raise its sporting culture. Today, he leads his premium brand Body Architect – BM and manages MV FITNESS – India's best premium gym, setting new standards in fitness and lifestyle. As an Ambassador of the Fit India Movement, he promotes accessible fitness, mentors athletes, supports the armed forces, uplifts underprivileged children, and champions animal welfare — embodying service-driven excellence and redefining what it means to be a modern fitness leader. Ranjeet Singh Nirvana: Ranjeet Singh Nirvana is a veteran hospitality leader with over 32 years of experience shaping premier hotels and resorts across India and abroad. Currently the General Manager at Rawla Sagrun, Kumbhalgarh, he has elevated the property into a top destination for luxury weddings and exceptional guest experiences. A graduate in Hotel and Tourism Management with a Master Diploma in Software Technology, he excels in pre-opening operations, project management, and staff training. His career spans leadership roles at Aranya Vilas Resort, Hotel Udai Kothi, and Sunway Hotel in China, where he introduced authentic Indian hospitality and cuisine. Known for hands-on leadership, financial acumen, and guest-centric innovation, he continues to set new standards of service, efficiency, and cross-cultural excellence in Indian hospitality. Sajin and SARA CONSTRUCTION & ENTERPRISES: At just 25, Er. Sajin stands as a dynamic young entrepreneur with an Innovative Businessman award and Emerging Entrepreneur of the Year 2025 award in India, he has turned challenges into opportunities through discipline, creativity, and determination. A civil engineer by profession, he embarked on his entrepreneurial journey in 2020. With guidance from his father and valuable corporate training at a leading real estate company, he sharpened both his technical skills and business acumen. This foundation gave rise to SARA CONSTRUCTION & ENTERPRISES, a name now synonymous with quality and timely delivery. In just a few years, the company has achieved an impressive annual turnover of ₹10 crores, establishing Sajin as an inspiring role model for aspiring engineers and entrepreneurs. Dr. C. Sujitha Deva Vishnu: Dr. C. Sujitha Deva Vishnu is a pioneering entrepreneur who blends academic brilliance with social responsibility. Holding dual master's degrees in power electronics and business management, she began as a professor and renewable energy researcher before shifting to organic farming after her marriage in 2017. Turning passion into enterprise, she built a thriving, eco-friendly business while promoting sustainability and innovation. During the pandemic, she led impactful food aid initiatives, reflecting her deep commitment to community welfare. Her exceptional contributions have earned her several national and international accolades and an honorary doctorate in Women Entrepreneurship from Universal Tamil University. Through resilience, integrity, and vision, Dr. Sujitha inspires women to pursue success with purpose, proving that passion and perseverance can transform challenges into achievements. Dr. Shahnawaz Alam: Dr. Shahnawaz Alam, a distinguished union leader and scholar from Jamshedpur, Jharkhand, has over 28 years of experience in industrial relations and labour welfare. Currently Vice President of Tata Workers' Union, Working President at JCAPCPL, and Secretary of Jharkhand INTUC, he is known for fostering dialogue between management and workers. A Ph.D. in Management, he also serves as visiting faculty at IIM Ranchi and XISS Ranchi. Dr. Alam has introduced reforms such as union constitutions, ISO auditor training, and the Tata Workers' Union Heritage Gallery, while promoting democratic elections and skill development programs. Internationally trained and widely published, he combines practical leadership with academic insight, empowering employees, advocating social inclusion, and shaping progressive labour practices across India's industrial landscape. Mrs. Sudha Gupta : Nearly three decades ago, when joyful, nurturing preschools were rare in India, Mrs. Sudha Gupta redefined early education with the launch of Mother's Pride in 1996, guided by the philosophy 'Love Blossoms Here'. Her vision expanded in 2005 with Presidium, a school that nurtures leadership, creativity, and individuality alongside academics. A celebrated life coach and parenting expert, she empowers parents and teachers while shaping young minds with love and purpose. Through books, media columns, and global speaking engagements, she continues to inspire modern parenting and education. Honored with prestigious awards including CNBC's Emerging India Award, the Golden Peacock Award, and FICCI's Outstanding Woman Entrepreneur, she now advances her latest initiative, 'The Guru is Here', fostering life skills for tomorrow's world. Dr. Rajesh Takyar: Dr. Rajesh Takyar, a celebrated author, entrepreneur, and spiritual thinker, embodies perseverance and purpose. At 71, he is creating a book series on the eighteen chapters of the Shrimad Bhagavad Gita, four of which are already complete. Known for works like Safalta Ka Rasta, Krishna Ek Satyagyan, and Inventing Dreams—winner of the Golden Book Award—he shares timeless wisdom drawn from Hindu scriptures with modern readers. A National Bharat Ratna Award and Best Author Award recipient, he also invented the world's first tea-making robot, the Hiarya Tea Robot, showcasing his innovative spirit. From overcoming financial struggles to global recognition, Dr. Takyar's journey unites spirituality and technology, inspiring future generations to pursue knowledge, resilience, and the belief that even the impossible can be achieved. Dr. Amisha Qaenaat Anand: Dr. Amisha Qaenaat Anand is emerging as a pioneer in the robotic industry with her groundbreaking innovation in medical and surgical robotics. She emphasizes that neuro-robotics is rapidly evolving, requiring constant innovation to ease patients' lives. Her revolutionary rehabilitation robot is shaping the future of neurological therapy by enhancing quality of life through precise control, therapy personalization, real-time progress monitoring, and interactivity. This innovation reduces the burden on therapists while accelerating recovery for patients with diverse neurological conditions. By integrating medical aid with robotics, Dr. Anand has created a versatile tool that makes rehabilitation more effective and efficient. Educated in London and the U.S., and innovating in Japan, she brings immense pride to India with her achievements. Abdul Sattar Sainudeen: Abdul Sattar Sainudeen, the visionary Founder and Director of Real English School, stands as a true trailblazer in the landscape of modern education. His institution created history in 2005 by becoming the world's first IMS-certified school, redefining benchmarks of quality and excellence in learning. The school has pioneered reforms by introducing Computer education right from grade one since 1993, CCTV surveillance, talkback systems, lightning arresters, safety training, firefighting equipment, and a website for the first time in Gujarat in 2001. Under his dynamic leadership, the school has won 106 international gold medals. Honored with eight national awards and an international gold medal, he continues, even at 67, to inspire with groundbreaking research that challenges Einstein's theory of relativity. About Kiteskraft Productions Kiteskraft Productions LLP, established in 2019, is a premier organizer of National and International Conferences and Award ceremonies across sectors like Education, Business, Healthcare, NGOs, and Entertainment. With a mission to recognize excellence, Kiteskraft honors individuals who drive innovation and outcome-based learning. Certified by ISO and MSME, and registered under MCA, it upholds high standards of quality. Recognized by the Scholar's Book of World Records, Kiteskraft fosters industry collaboration through impactful events. With a dedicated team and a vision for excellence, Kiteskraft Productions LLP continues to inspire, empower, and shape a brighter future. Visit www.kiteskraft.com for more. Photo: https://mma.prnewswire.com/media/2788419/Kiteskraft_10_Icons.jpg' alt='Embedded Media' /> (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI

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