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    India draws record USD 127 bn forex deposit in special drive
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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.
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
Show AI Summary
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
Show AI Summary
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
Show AI Summary
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.

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100th Meeting of Network Planning Group under PM GatiShakti evaluates key Infrastructure projects

October 17, 2025

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05 projects including 02 Rail and 02 Road/Highway 01 Metro Rail Project of MoHUA evaluated for alignment with integrated multimodal infrastructure and socio-economic benefits

The 100th  meeting of the Network Planning Group (NPG), convened today to evaluate infrastructure projects of Road, Transport & Highways. The meeting focused on enhancing multimodal connectivity and logistics efficiency in alignment with the PM GatiShakti National Master Plan (PMGS NMP).

The NPG evaluated 05 projects in which 02 Road/Highway projects of MoRTH, 02 Rail projects and 01 Metro Rail Project of MoHUA for their conformity to the PM GatiShakti principles of integrated multimodal infrastructure, last-mile connectivity to economic and social nodes and ‘Whole of Government’ approach. These initiatives are expected to boost logistics efficiency, reduce travel times, and deliver significant socio-economic benefits to the catchment areas of the project. The evaluation and anticipated impacts of these projects are detailed below:

Ministry of Railways(MoR)

Quadrupling between Hosapete and Ballari (Karnataka): The Ministry of Railways has proposed the construction of a 65 km quadruple railway line between Hosapete and Ballari in Karnataka. This initiative targets one of the state’s most industrialized and mineral-rich corridors, aiming to decongest existing routes, enhance freight capacity, and support the rapid economic growth of the Hosapete–Ballari industrial belt. Strategic Importance. The Hosapete–Ballari region is a critical hub for mining, steel production, power generation, and cement manufacturing. The existing double line has been operating near saturation due to heavy movement of bulk commodities such as:Iron ore – feeding Steel plants in Toranagallu and Ballari, Coal – for Thermal power generation and industrial usage, Steel & Cement – from industrial clusters to domestic and export markets. Quadrupling will not only ease congestion but also create additional capacity to accommodate the anticipated surge in both freight and passenger traffic, making the corridor more reliable and efficient.

Doubling from Gondia to Jabalpur (Madhya Pradesh &Maharashtra): The Ministry of Railways has proposed the doubling of the Gondia–Jabalpur railway line, covering a length of 230.5 kilometres across the states of Maharashtra and Madhya Pradesh. This critical rail infrastructure project has been envisioned to augment line capacity, ease congestion on the existing single-line corridor, and improve both passenger and freight movement in one of Central India’s most strategically significant regions. Geographic Coverage. The alignment of the proposed project passes through five districts: Maharashtra: Gondia, Madhya Pradesh: Balaghat, Mandla, Seoni, and Jabalpur. This alignment connects key agricultural, mining, and industrial zones, strengthening the Gondia–Jabalpur section as an economic and logistic lifeline.  A projected increase in both freight and passenger movement, with significant growth in coal, steel, cement, and other goods traffic along the Balharshah–Gondia–Jabalpur corridor. The existing single-line section often faces bottlenecks, resulting in slower operations, longer turnaround times, and delays in freight handling.The corridor serves as a vital link between eastern and central India, supporting industries, agriculture, and mineral-rich regions.

Ministry of Road, Transport & Highways (MoRTH)

Widening of the 4-Lane Mahwa to Mandawar Section (Rajasthan): The Ministry of Road Transport and Highways has announced a significant proposal for the widening and upgradation of the Mahwa–Mandawar stretch of National Highway 921 in Rajasthan. At present, this section functions as a 4-lane highway, but with steadily increasing vehicular traffic and the region’s growing role as a trade and transit corridor, it has become essential to expand its capacity. Under the proposal, the highway will be upgraded and widened across a total length of 50.246 kilometers, ensuring it can accommodate current demands as well as future growth in passenger and freight movement.

Once completed, the improved Mahwa–Mandawar stretch will serve as a key link between Rajasthan, Delhi NCR, and Haryana, offering seamless connectivity across state borders. The enhanced highway will help reduce travel time, cut down on congestion, and improve road safety for commuters. For businesses and industries operating in the region, faster movement of goods will lower logistics costs, boost efficiency, and stimulate trade opportunities.

In addition, the project is expected to generate employment during its construction phase and contribute to long-term social and economic benefits, particularly for communities living along the corridor. Improved access to markets, educational institutions, and healthcare facilities will support inclusive regional growth, making the benefits of national infrastructure development more widely shared.

Overall, the proposed widening of NH-921 represents a strategic investment in Rajasthan’s transport network, underscoring the government’s commitment to building resilient, future-ready infrastructure that supports both regional aspirations and national economic progress.

Construction of  six-lane elevated road along with Six lanes at Grade with a service road in Anisabad- Deedargunj (Bihar).The Ministry of Road Transport and Highways (MoRTH) has proposed the development of a six-lane elevated corridor, along with six lanes at grade and a dedicated service road, between Anisabad and Deedarganj in Bihar, covering a stretch of 13.37 kilometers. This strategic infrastructure upgrade is designed to address growing traffic volumes, ease congestion, and provide a faster and safer travel experience along this critical urban corridor.

Traffic Management Structures. 4 Light Vehicular Underpasses (LVUPs) to facilitate local traffic movement without affecting corridor flow, 91 intersections redesigned for better access control and efficiency, 8 grade separators to minimize traffic conflict points and ensure uninterrupted mobility

Service Road Network. A continuous service road alongside the main corridor to cater to local traffic, improving safety while reducing encroachment and congestion on the main carriageway

Strategic Importance. Given the location of Anisabad and Deedarganj within the Patna Metropolitan region, the project will play a crucial role in:The project will play a vital role in supporting regional trade corridors linking Bihar to neighboring states, while also facilitating the growth of economic hubs by providing improved access to markets, industrial clusters, and logistic centers. At the same time, it is expected to enhance the overall quality of life by reducing traffic stress, introducing stronger safety measures, and ensuring reliable infrastructure that can sustain future growth and development.

Ministry of Housing and Urban Affairs(MoHUA)

Jaipur Metro Phase 2 from Prahladpura to Todi Mod (Rajasthan). The Ministry of Housing and Urban Affairs has proposed the development of Jaipur Metro Phase 2, a 42.8 km North–South corridor from Prahladpura to Todi Mod. The project will include 36 stations—34 elevated and 2 underground—covering important locations such as Haldi Ghati Gate, Sitapura Industrial Area, SMS Hospital, Ambabari, and Vidhyadhar Nagar.

The alignment along Tonk Road and the Sitapura Industrial Area will strengthen connectivity to Jaipur’s key growth zones.

The corridor will link with the operational East–West line at Chandpole Station and through a foot-over bridge at Jaipur Junction Metro Station, improving access to the railway stations and the airport. This is expected to ease traffic congestion, reduce vehicle use, cut down pollution, and lower fuel consumption.

The project will also serve nearby satellite towns. Todi Mod Station will cater to commuters from Chomu, while the proposed Prahladpura Station, located near the Ring Road, will benefit passengers from Chaksu. The project supports the Transit-Oriented Development (TOD) strategy as envisaged in the Jaipur Master Development Plan, facilitating higher-density, mixed-use developments around metro stations without straining the existing civic infrastructure. The meeting was chaired by Shri Pankaj Kumar, Joint Secretary, Logistics, Department for Promotion of Industry, and Internal Trade (DPIIT),

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