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    India’s Foreign Exchange Markets: Getting ready for the next Decade [Keynote Address delivered by Deputy Governor Shri Rohit Jain on the Annual Day ...
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August 21, 2026
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Foreign exchange market modernisation prioritises delegated decisions, customer transparency, digital workflows, local-currency settlement and accountable risk management.
Foreign exchange market modernisation advances a facilitative, principles-based framework based on delegated decision-making by Authorised Dealers, risk-based reporting, and customer-centric service standards. Authorised Dealers must apply clear internal policies, avoid unnecessary documentation, disclose charges, timelines and grievance mechanisms, and ensure consistent treatment of comparable transactions. Local-currency settlement requires viable trade corridors, competitive hedging, correspondent relationships and robust AML/CFT controls. Digital workflows, electronic trading and reporting infrastructure should improve transparency and resilience, while automated tools remain subject to explainability, review and data-protection safeguards.
August 21, 2026
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Sugar price containment measures restrict stockholding, permit duty-free imports, and strengthen inventory verification to deter hoarding.
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Predicate-offence dependency limits retrospective addition of old FIRs to preserve money-laundering proceedings after the original scheduled offence is closed.
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August 21, 2026
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Sugar supply pressures drive festive-season price increases as imports, stockholding limits and ethanol diversion shape market conditions.
Sugar prices in Bengal have risen sharply ahead of the festive season, with higher prices also affecting jaggery and other sugar-derived products. Supply constraints, mill stock releases, lower production in Brazil, ethanol diversion and possible hoarding have been identified as contributing factors. Raw-sugar imports have been permitted to augment availability, while stockholding restrictions limit inventories of specified bulk consumers. Lower projected closing stocks and possible future production effects from El Nino may sustain pressure on sugar availability and increase costs for sweetmeat producers.
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Foreign currency inflows and FCNR(B) deposits supported rupee sentiment, while oil prices and geopolitical risks constrained currency strength.
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Raw sugar tariff-rate quota permits duty-free imports while bulk consumers face consumption-based sugar stockholding limits.
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Duty-free raw sugar imports under tariff rate quota seek to improve domestic supply and contain rising sugar prices.
Duty-free import of 10 lakh metric tonnes of raw sugar is permitted under a tariff rate quota until 31 October 2026. The import-policy measure seeks to increase domestic raw-sugar availability and restrain rising local prices amid reduced opening stocks. Price-containment measures also include a stockholding limit for bulk consumers using more than 10 tonnes of sugar monthly, restricting holdings to 15 days' consumption.
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Stalin-led meeting of parties decides to approach SC against SIR in Tamil Nadu

November 2, 2025

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Chennai, Nov 2 (PTI) In a gathering of all parties, a resolution was adopted to approach the Supreme Court against the Special Intensive Revision (SIR) of electoral rolls in Tamil Nadu, Chief Minister M K Stalin said here on Sunday after chairing the meeting.

As the Election Commission has not accepted the request to hold the SIR of electoral rolls in Tamil Nadu after the 2026 Assembly election, it has been decided to approach the apex court, Stalin, the president of the ruling DMK, said.

Assembly election, as per schedule, is due in Tamil Nadu by April 2026.

"Since the EC has not accepted our request to hold the SIR of electoral rolls after the 2026 Assembly polls, by giving adequate time to carry out revisions without confusions and doubts, we have passed a resolution in today's all party meeting to approach the Supreme Court," the chief minister said in a statement.

He said it was the duty of all parties to oppose the SIR being taken up in a hasty fashion with an aim to "murder democracy and take away the voting right of the Tamil Nadu people." Stalin thanking all the parties that took part in the meeting, appealed to other parties that did not participate to discuss SIR and take steps to protect democracy.

Main opposition AIADMK and actor-politician Vijay led Tamizhaga Vettri Kazhagam have lashed out at the ruling party over the SIR issue.

In his address, the DMK supremo said that it was a meeting without any political motives and it was aimed at guarding the dignity of democracy.

Alleging threat to the people's right to vote, he said it is the duty of the democratic forces to thwart such perils.

Asserting that they were not opposed to any reforms, he alleged the SIR exercise carried the threat of taking away people's right to vote and it happened in Bihar and the same drive is set to get implemented in states, including Tamil Nadu.

Adequate time frame to carry out revisions, in an ambience free of tension, is important. When that is the case, making a proposal to carry out full revision some months before the state election is only a trick to delete genuine electors from the electoral rolls, he alleged.

Furthermore, he alleged: "That was what was done in Bihar, now they intend doing it in other states and that is why we oppose it (SIR)." A resolution adopted at the chief minister-led meeting condemned the Election Commission for acting as a "puppet of the Union government and with an authoritarian tendency, despite most political parties in the country opposing this SIR from the very beginning." While the Bihar state SIR case was pending in the Supreme Court, especially at a time when the final judgment in that case has not been delivered, and with only a few months left for the elections in Tamil Nadu, the Election Commission launching the SIR (second phase) is unacceptable, it said.

There was no doubt that implementing the SIR scheme in 12 states, including Tamil Nadu, without rectifying any of the irregularities that occurred in Bihar, is snatching away the people's right to vote and "digging a grave to completely bury democracy." As per Section 169 of the Representation of the People Act, 1951, the electoral roll revision SIR must be done only by publishing a formal notification in the union government's gazette.

The Election Commission unilaterally issuing the notification without following that procedure is against the Constitution and the Representation of the People Act. "The SIR notification issued now is itself illegal. Even though the Supreme Court ordered that the Aadhaar card should be included as the 12th document, the notification dated 27.10.2025 issued by the Election Commission now mentions Aadhaar in an unclear manner. There is no integrity in the Election Commission's voter verification; there is no transparency.

The phraseology used in that notification raises strong suspicions. The Election Commission's stance is that Aadhaar will be accepted as identification with certain conditions." Also, the resolution, assailing the notification as confusing, alleged "it appears that by creating such confusion, the Election Commission is planning to remove the names of genuine voters from the list." The shortcomings in the Election Commission's notification must be rectified, the Supreme Court's guidelines must be openly followed, adequate time must be given, and only after the 2026 elections (in Tamil Nadu) should the Election Commission conduct the SIR in an unbiased manner towards any party.

"Since the Election Commission does not accept these views, there is no other way but to approach the Supreme Court to uphold the voting rights of all Tamil Nadu voters. This all-party meeting also resolves that the political parties in Tamil Nadu will file a petition in the Supreme Court to save electoral democracy." Besides representation from the DMK, which is the host, ruling party's allies, including the Congress, MDMK, VCK, Left parties, Kamal Haasan-led Makkal Needhi Maim, IUML, Kongunadu Makkal Desiya Katchi and Tamilaga Vazhvurimai Katchi took part.

Friendly parties, including the DMDK and SDPI and DMK's ideological parent outfit the Dravidar Kazhagam (DK) took part in the "all party" meeting. PTI VGN VGN KH

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