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    Subhash Chandra drops mention of Ambani allegations, shifts focus to settling Essel debt
    NATIONAL ACCOUNTS STATISTICS - 2026 PUBLICATION
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August 31, 2026
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Personal guarantor insolvency distinguishes guarantee liability from borrower debt while creditor voting challenges question repayment-plan approval.
Personal insolvency proceedings concerning personal guarantees distinguish a guarantor's liability from the underlying borrowing entities' debts. Claims against the guarantor arise from guarantees furnished for loans obtained by Essel Group-associated entities, while the borrowers' repayment obligations remain enforceable and creditors may pursue corporate assets and securities. Dissenting lenders have challenged the resolution-plan voting process, alleging that family-linked associates or related parties should have been excluded from committee of creditors voting.
August 31, 2026
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National accounts revisions align GDP and sectoral estimates with updated price, production and banking service indicators.
National Accounts Statistics-2026 incorporates updated Producer Price Index, Index of Industrial Production and Banking Services Price Index series with base year 2022-23 into annual and quarterly GDP estimates. The revised indicators expand coverage, update weights and improve price mapping for national-account activities. GDP and gross value added estimates from 2022-23 onwards are revised at current and constant prices, with sector-specific effects in mining and quarrying, manufacturing, trade services, general government and departmental enterprises. Supply and Use Tables for 2022-23 and 2023-24 are also updated.
August 31, 2026
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Trade facilitation and pharmaceutical market access advance through regulatory cooperation, preferential trade modernisation, and reciprocal agricultural access.
India and Brazil are advancing bilateral trade, investment and economic cooperation through a diversified partnership focused on pharmaceuticals, chemicals, engineering goods and machinery. India-MERCOSUR engagement is being pursued through early finalisation of Terms of Reference for expansion and modernisation of the Preferential Trade Agreement. Pharmaceutical market access is supported by regulatory cooperation under the CDSCO-ANVISA MoU. Agricultural trade facilitation includes phytosanitary processes, reciprocal market access work and mutual recognition of Electronic Certificates of Origin, alongside multilateral coordination through BRICS, the G20 and the WTO.
August 31, 2026
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Cross-border UPI merchant acceptance enables Indian travellers to make UZQR payments at merchants throughout Uzbekistan.
Cross-border UPI merchant acceptance in Uzbekistan allows Indian travellers to make instant person-to-merchant payments through UPI-enabled applications by scanning the interoperable UZQR code. Integration with the Unified National QR infrastructure extends acceptance across retail, hospitality and service merchants. Regulatory approvals support HUMO's role as NIPL's authorised partner for cross-border merchant acceptance, reducing reliance on international cards and cash.
August 31, 2026
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Mobile-first aviation education supports accessible, self-paced certification-led learning and career awareness across aviation roles and geographic locations.
Flymore Aviation LLP operates a mobile-first aviation learning platform intended to make specialised aviation education more accessible and affordable for aspiring pilots, cabin crew and other aviation-sector professionals. The app provides structured, self-paced aviation courses aimed at building industry knowledge, supporting certification-led skill development, improving career awareness and assisting employment readiness across aviation functions. Course delivery through a digital platform is positioned as an alternative to location-dependent and high-cost classroom training.
August 31, 2026
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Indigenous defence technology and exports anchor the annual performance review of public sector defence enterprises.
Annual performance review of 16 Defence Public Sector Undertakings is scheduled with emphasis on indigenous technology, innovation, self-reliance and enhancement of defence exports. Chairpersons and managing directors of seven specified undertakings will present dividends attributable to the Government's equity shareholding. Publications cover self-reliance, student awareness of defence technologies, and modernisation and indigenisation roadmaps. Reported performance includes growth in turnover, profit after tax and defence exports.
August 31, 2026
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Employee provident fund and gratuity dues remain protected outside the liquidation estate despite competing financial creditor claims in insolvency proceedings.
Employee provident fund and gratuity dues of former Jet Airways workmen and employees were required to be paid in full by the liquidator. The NCLAT position upheld treats statutory employee dues relating to provident fund, gratuity and pension funds as outside the liquidation estate, protecting them from competing creditor claims. Financial creditors had argued that such dues should be distributed through the liquidation estate unless dedicated funds existed at the commencement of liquidation. The underlying questions of law remain open for an appropriate case.
August 31, 2026
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Rupee exchange-rate support amid dollar strength and oil risks as foreign-currency deposit flows bolster market sentiment.
Foreign-exchange market conditions saw the rupee recover from early losses amid possible Reserve Bank of India intervention to contain significant depreciation. Higher US Treasury yields, a broader dollar rally, rising crude oil prices and geopolitical supply risks pressured the currency. The special USD-INR forex swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings mobilised foreign-exchange inflows supported by non-resident Indian participation, strengthening market sentiment.
August 31, 2026
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Financial confidence gaps persist when opaque financial journeys, dark patterns and unclear communication deter informed consumer participation.
Financial-service digitisation may expand access without ensuring consumer confidence where customers cannot understand processes, assess risks or feel secure in financial decisions. Opaque claims, redemptions, eligibility criteria and approval stages can weaken trust and discourage insurance, investment and credit participation. Hidden charges, complex documentation, forced bundling and target-driven sales practices may further impair informed choice. Greater transparency, simplified communications, real-time process visibility and AI-assisted guidance are identified as measures to reduce cognitive friction and strengthen consumer control.
August 31, 2026
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NBFC licensing enables Hyundai Capital India to begin wholesale dealer financing while preparing retail finance and risk-management infrastructure.
Hyundai Capital India has commenced financial services operations after obtaining a non-banking financial company licence from the Reserve Bank of India. Initial operations concentrate on wholesale financing for local automotive dealers. Operations are intended to expand the dealer-financing network, sales infrastructure and risk-management systems across India, supporting a subsequent phased introduction of retail financing for individual customers.
August 31, 2026
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Personal insolvency resolution approval faces criticism over low creditor recovery and alleged family-linked voting influence in the resolution process.
Personal insolvency resolution approval concerning Subhash Chandra involved a repayment plan of Rs 6.5 crore against admitted creditor claims exceeding Rs 22,000 crore. Objections were raised regarding the voting influence exercised by entities linked to the debtor's family in relation to the resolution process. Pinarayi Vijayan criticised the approval, alleging preferential treatment of powerful corporate interests.
August 31, 2026
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Foreign exchange market intervention seeks to limit rupee depreciation amid oil-price pressure, dollar strength, and capital outflows.
Foreign exchange market conditions put the rupee under depreciation pressure amid higher crude oil prices, geopolitical risks, stronger US dollar conditions, expectations of tighter US monetary policy and foreign equity outflows. RBI market intervention was reported to contain significant depreciation. Improved foreign-currency non-resident bank deposit flows and higher foreign exchange reserves supported investor sentiment and the external liquidity position.
August 31, 2026
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Psychotropic medicine diversion faces NDPS enforcement where controlled tablets allegedly travel without statutory documentation and traceability details.
Enforcement action under the Narcotic Drugs and Psychotropic Substances Act, 1985 addressed alleged inter-State diversion of psychotropic medicines transported without statutory documentation. A truck carrying Alprazolam, Tramadol, Nitrazepam and Clonazepam tablets was intercepted; the medicines and vehicle were seized and one suspect was arrested. Preliminary examination indicated erasure of identifying batch and date details and transport of region-restricted medicines without invoices, bilty or e-way bills. Investigation concerns the manufacturing, supply and distribution network involved.
August 31, 2026
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Synthetic-drug trafficking enforcement targets rail-borne amphetamine and MDMA consignments through baggage interceptions, seizures, follow-up delivery operations, and arrests.
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August 31, 2026
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India-Chile CEPA negotiations seek a balanced framework to expand trade, investment, technology cooperation and resilient supply chains.
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August 30, 2026
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Sugar price controls face persistent retail and wholesale price firmness despite duty-free imports, stockholding restrictions, and export prohibition.
Sugar retail and wholesale prices remained elevated despite measures intended to curb price increases, including duty-free imports of raw sugar, tighter stockholding norms for bulk users and dealers, and a prohibition on sugar exports. Ex-mill rates declined following the permitted duty-free imports, although customary margins continued between ex-mill, wholesale, and retail prices. Projected sugar production is lower than earlier estimates, while annual domestic demand remains substantial.
August 30, 2026
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Aadhaar OTP verification expands online vehicle and licensing services, reducing physical visits and curbing intermediary exploitation.
Aadhaar-based OTP verification will be extended to additional vehicle- and driving-licence-related services through the Vahan and Sarathi portals. The digital arrangement is intended to reduce physical visits to transport offices, prevent intermediary exploitation arising from delayed processing, and enable applications to be processed on a first-come, first-served basis. Physical attendance will remain necessary for vehicle inspections, identification of legal heirs, personal hearings, and authentication where Aadhaar OTP verification fails.
August 30, 2026
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Related-party creditor voting in personal insolvency turned on whether the debtor held majority ownership or direct board control.
Dissenting lenders challenged the admission and voting rights of five creditors alleged to be family-linked associate or related entities, contending that their voting share enabled approval of a personal insolvency repayment plan. They alleged invalid post-moratorium guarantee invocations, undisclosed liabilities, inadequate claim scrutiny and incorrect voting-share computation. The third member rejected the voting-rights challenge, treating associate status as requiring the debtor's personal majority shareholding or direct board control, and accepted the repayment plan.
August 30, 2026
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Examination continuity and candidate fairness require re-examination where power failures prevent completion, alongside review of infrastructure accountability.
NEET-PG 2026 examination continuity was disrupted for candidates at two Jaipur centres because of internal power-supply failures attributable to the technological partner and examination-conducting agency. A re-examination has been scheduled for the affected candidates, with the venue and revised admit cards to be communicated separately. Action against the entities responsible for ensuring adequate examination infrastructure is under consideration.
August 30, 2026
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Women's monthly assistance eligibility restricts benefits to qualifying households and channels payments through deposits or restricted digital wallets.
Delhi Lakshmi Yojana provides monthly financial assistance to eligible women through recurring deposits and restricted Central Bank Digital Currency wallets. Recurring deposits are locked until July 31, 2029, subject to possible review of the maturity period after two years from launch. Eligibility requires a qualifying woman to be the eldest female family member, meet income, residence and voter-registration requirements, and satisfy household restrictions. Income-tax payers, GST filers, government employees, higher-electricity-consuming households and four-wheeler-owning households are excluded.

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A Must-Visit Cultural Experience This Season!

December 24, 2025

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The 13th Sargaalaya International Arts & Crafts Festival Begins December 23, 2025 Iringal | Kozhikode, Kerala, India (NewsVoir) If there is one cultural destination in South India that deserves a place on every traveller’s calendar this season, it is the 13th Sargaalaya International Arts & Crafts Festival (SIACF). From December 23, 2025, to January 11, 2026, Sargaalaya Kerala Arts & Crafts Village transforms into a living, breathing celebration of art, heritage, flavour, and community—an experience that is as inspiring as it is unforgettable.

Recognised as South India’s premier crafts festival, SIACF 2025 is expected to welcome over two lakh visitors, making it not just an exhibition, but a cultural phenomenon. Organised by Sargaalaya Kerala Arts & Crafts Village and managed by the legendary Uralungal Labour Contract Co-operative Society (ULCCS Ltd.), the festival continues to set benchmarks in responsible tourism and cultural excellence.

Where the World’s Crafts Come Together What makes SIACF truly extraordinary is its global soul rooted in Indian tradition. The 2025 edition brings together nearly 200 master artisans from 18+ Indian states, alongside celebrated craft practitioners from Belarus, Egypt, Iran, Israel, Jordan, Kazakhstan, Nepal, Russia, Sri Lanka, Syria, Tajikistan, Thailand, Uganda, Uzbekistan, and Taiwan.

Walking through SIACF feels like travelling across continents—each stall revealing a story, a heritage, and a human touch that no machine can replicate. For anyone who values authenticity, craftsmanship, and cultural depth, this is an experience that simply cannot be missed.

An Immersive Festival, Not Just an Exhibition SIACF 2025 is thoughtfully curated to offer far more than shopping. Visitors are invited to explore beautifully designed Handloom and Craft Theme Arenas, with special emphasis on Geographical Indication (GI)–tagged products, making it a rare opportunity to witness India’s protected craft legacies under one roof.

With over 100 exhibition and trade stalls, including works by National and State Award–winning artisans, the festival offers an unparalleled chance to engage directly with creators and take home pieces of living heritage.

Adding depth to the experience are the Tourism Expo and Tourism Talk Shows, where ideas, innovation, and the future of creative tourism come together—making SIACF equally compelling for professionals, students, and cultural thinkers.

Fashion, Flowers, Food & Festivity From elegance on the ramp to colour in full bloom, SIACF 2025 celebrates lifestyle in its most artistic form. Handloom Fashion Shows and Children’s Fashion Shows bring textiles to life, while the Flower Show adds a visual spectacle that delights all ages.

No visit to SIACF is complete without indulging in the much-loved Kerala Food Festival—a culinary journey through authentic local delicacies, enriched with regional flavours from states like Rajasthan. Daily live cultural performances by renowned artists ensure that every evening at Sargaalaya feels festive, soulful, and memorable.

For those who enjoy leisure amidst nature, pedal and motor boating along the serene Moorad River offers a refreshing pause—making the festival a perfect blend of culture, relaxation, and adventure.

A Festival That Makes a Difference Beyond its beauty and scale, SIACF stands out for its purpose. As a flagship rural tourism initiative, the festival plays a crucial role in empowering artisans, sustaining endangered crafts, and contributing meaningfully to the local economy.

This vision is strengthened by the support of the Department of Tourism, Government of Kerala, NABARD, the Ministry of Textiles (through the Development Commissioners of Handicrafts and Handlooms), and the Indian Institute of Handloom Technology, Kannur—ensuring that every visit directly supports livelihoods and cultural continuity.

The Perfect Family & Travel Recommendation Whether you are a culture enthusiast, a conscious shopper, a family looking for a meaningful holiday outing, or a traveller seeking authentic Kerala experiences, SIACF 2025 is an unmissable recommendation. It is rare to find a destination that seamlessly brings together craft, cuisine, learning, entertainment, and nature—yet Sargaalaya does so effortlessly.

“Sargaalaya is not just a craft village; it is a celebration of human creativity and shared heritage,” says Team Sargaalaya. “Every visit helps preserve living traditions while empowering rural communities through responsible tourism.” About Sargaalaya Kerala Arts & Crafts Village Set across 20 acres in Iringal, Kozhikode, Sargaalaya Kerala Arts & Crafts Village is a flagship initiative of the Department of Tourism, Government of Kerala, established in 2011. Developed on a Responsible Tourism model, it provides a permanent creative home for over 100 master artisans and features 27+ eco-friendly cottages, live craft demonstrations, and cultural spaces.

Recipient of the National Tourism Award for Best Rural Tourism Project, Sargaalaya is widely regarded as one of Kerala’s most enriching cultural destinations.

Sargaalaya Arts and Crafts Village: Towards a Global Cultural and Experiential Destination Sargaalaya Kerala Arts and Crafts Village at Iringal, near Vatakara in Kozhikode district, is envisioned to be developed as a globally benchmarked cultural, experiential, and interpretative destination for Malabar. The proposed development reimagines Sargaalaya not merely as a craft village, but as an integrated cultural institution that interprets regional heritage, nurtures creativity, produces knowledge, and anchors a wider tourism ecosystem across North Kerala. The focus is on creating a living cultural landscape where heritage, contemporary practice, tourism, and community livelihoods intersect.

The development places strong emphasis on immersive visitor engagement through interactive craft zones, daily demonstrations, curated workshops, and guided interpretation. Craft spaces will be reconfigured to allow larger visitor participation, supported by a central craft emporium and dedicated workshops that enable skill development, innovation, residencies, and fair market access for artisans. These interventions ensure that crafts remain dynamic, living practices rather than static displays.

At the heart of the project is the Cultural Experience and Interpretation Centre, conceived as the primary narrative anchor for Malabar. Through curated exhibitions, multimedia installations, immersive digital environments, and interactive archives, the centre will present Malabar’s maritime history, social reform movements, resistance traditions, ecological knowledge, and cultural pluralism, offering visitors a coherent entry point into the region’s layered cultural landscapes.

A series of thematic developments will structure the expanded Sargaalaya ecosystem. The Literature City will position Malabar as a living literary landscape through writers’ retreats, multilingual libraries, translation and publishing labs, literary residencies, and immersive experiences linking literature with place, memory, and social history. The Kalari Village, rooted in the martial traditions of Kadathanad, will integrate training, performance, research, wellness, and interpretation through traditional arenas, therapy centres, and an interactive martial arts museum.

The project places strong emphasis on the documentation and preservation of performing arts, supported by digital archives, performance-capture studios, and immersive experience centres for art forms such as Theyyam, Kathakali, Kalaripayattu, and Mappila songs. A Living Heritage Programme will support artists through apprenticeships, fellowships, residencies, and contemporary collaborations, ensuring continuity alongside creative evolution.

Sargaalaya is envisioned as a year-round cultural destination with robust performance infrastructure, including open-air amphitheatres, indoor auditoriums, flexible venues, and artist residency facilities. Regular performances, curated weekend programmes, and four large-scale annual cultural productions will ensure sustained activation. A flagship attraction, Malabar Symphony, is proposed as a large-scale light-and-sound hybrid immersive storytelling experience narrating Malabar’s maritime history, resistance movements, ecological consciousness, and cultural evolution. Conceived as a thirty-five-minute production staged twice daily, Malabar Symphony is proposed to be developed in collaboration with leading national and international artists, with concept and direction by Revathy, screenplay and narrative by Shankar Ramakrishnan, music composition by A.R. Rahman, sound design by Resul Pookkutty, technical direction by Alphons, theatre direction by Royston Abel, animation and visual effects by Aravind, and voice performances by distinguished artists including Mammootty, Manju Warrier, Parvathy Thiruvothu, Anoop Menon, Sayonara Philip, and Prithviraj Sukumaran.

A dedicated Children’s Cultural and Experiential Zone will offer play-based learning rooted in Malabar’s cultural narratives and ecological contexts, integrating creative activity spaces, nature-linked exploration, and water-based learning experiences. Complementing this are structured workshops and creative learning programmes across crafts, music, theatre, movement, painting, and visual arts, catering to students, artists, tourists, and cultural professionals.

The development adopts a hub-and-spoke tourism model, positioning Sargaalaya as the central orientation and interpretation hub for integrated cultural, riverine, coastal, literary, martial, and culinary circuits across Malabar. River-based journeys and water experiences will function as experiential corridors, foregrounding ecology, heritage, and local livelihoods.

The ecosystem further includes curated food tourism and culinary experiences, including festivals and a floating restaurant rooted in Malabar cuisine; a handloom, design, and retail zone supporting innovation and contemporary applications of traditional textiles; a vibrant flea market strengthening the informal cultural economy; and facilities for social, cultural, and community events, conferences, exhibitions, destination weddings, and themed cultural ceremonies.

To enable deeper immersion, the project proposes on-site accommodation and stay facilities designed in harmony with the landscape and local architectural traditions, supporting multi-day cultural tourism, artist residencies, research stays, and family travel. Through this integrated approach, the upcoming phase of Sargaalaya positions culture as core infrastructure for development, envisioning a globally relevant model for experiential, responsible, and knowledge-driven cultural tourism that interprets Malabar for contemporary and international audiences.

Website: www.sargaalaya.in Instagram: Sargaalaya – Kerala Arts & Crafts Village Iringal About ULCCS Ltd.

Founded in 1925 by social reformer Vagbhatananda Guru, the Uralungal Labour Contract Co-operative Society Ltd. (ULCCS) is among India’s most respected worker cooperatives. With 18,000+ employees, 7,500+ completed projects, and global recognition—including a World No. 2 ranking in the Industry & Utilities sector by the World Cooperative Monitor for 3 years—ULCCS stands as a UN-recognised model for ethical, inclusive, and quality-driven development.

If you are looking for one unforgettable cultural recommendation this season, SIACF 2025 at Sargaalaya is it.

(Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI PWR

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