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August 28, 2026
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Foreign exchange reserves reached a record level, supported by increases in foreign currency assets and gold holdings.
India's foreign exchange reserves increased by USD 12.422 billion to an all-time high of USD 729.328 billion for the week ended 21 August. Foreign currency assets and gold reserves recorded the principal increases, while special drawing rights and the reserve position with the IMF also rose. Foreign currency asset valuation reflects movements in non-US currencies held in the reserves. FCNR(B) and concessional swap arrangements were introduced to attract additional foreign-exchange inflows.
August 28, 2026
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IPO regulatory approval enables Jio Platforms to advance preparations for its proposed fresh equity share public offering.
Jio Platforms Ltd. has obtained Sebi's final observations for its proposed initial public offering. This key regulatory stage enables further preparations for the public issue, subject to applicable regulatory requirements. The proposed offering comprises up to 27 crore fresh equity shares and is expected to account for approximately 2.9 per cent of the company's post-issue equity base.
August 28, 2026
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Financial inclusion through basic bank accounts expands banking access with no-balance accounts, debit cards, and emergency overdraft support.
Pradhan Mantri Jan Dhan Yojana enables unbanked adults to open basic bank accounts without minimum-balance or maintenance-charge requirements. Accounts include a free RuPay debit card with accident insurance coverage and eligibility for an overdraft facility during emergencies. The scheme promotes digital transactions, financial security and participation in the formal economy, while extending banking access to rural and semi-urban communities and increasing women's financial inclusion.
August 28, 2026
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Flexible personal loan repayment enables eligible borrowers to select longer tenures, subject to eligibility, terms, verification, and repayment capacity.
Bajaj Finance personal loans offer eligible customers collateral-free borrowing with flexible repayment tenures of 12 to 108 months, subject to eligibility, applicable terms, verification and documentation. A longer tenure may reduce monthly EMIs by spreading repayment over more months, but can increase total interest payable. Borrowers should compare the interest rate, tenure, EMI, processing charges and other costs, while considering their income, existing commitments and repayment capacity. Loan Utsav 2026 provides limited-period rewards for eligible customers whose loans are successfully disbursed during the campaign period, subject to applicable terms.
August 28, 2026
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Digital arrest money laundering investigation tracks cyber-fraud proceeds through layered bank accounts, cash withdrawals, and foreign-exchange conversion.
Arrests under the Prevention of Money Laundering Act form part of an investigation into alleged digital arrest cyber fraud and laundering of fraud proceeds. Funds were reportedly routed through numerous bank accounts, withdrawn in cash, and converted into foreign currency through licensed money changers. The financial trail is linked to commodity trading, travel and foreign-exchange entities allegedly connected with cyber-fraud complaints and first information reports. The inquiry also identified alleged shell or dummy companies using proxy directors to conceal control and facilitate fund movement.
August 28, 2026
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Foreign exchange intervention and lower crude prices supported rupee appreciation despite a stronger dollar and foreign institutional investor outflows.
Foreign exchange market conditions supported a six-paise appreciation of the rupee against the US dollar at the close of trading. Lower global crude oil prices and Reserve Bank of India intervention to limit significant rupee depreciation contributed to the movement. A marginal strengthening of the US dollar and foreign institutional investor equity outflows continued to exert pressure, while FCNR(B) scheme inflows supported the currency.
August 28, 2026
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Cyber fraud impersonating enforcement officials coerced a senior citizen into bank and cryptocurrency transfers through terror-funding threats.
Cyber fraudsters allegedly impersonated public officials and threatened a senior citizen with implication in money laundering, terror funding and cybercrime. Using WhatsApp video calls and purported official notices, they allegedly induced the victim to transfer funds to multiple bank accounts and a cryptocurrency wallet on the pretext of proving innocence. The victim reportedly liquidated fixed deposits and mutual fund investments before identifying the deception and reporting it through the cybercrime helpline. A cyber police case was registered for further investigation.
August 28, 2026
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Rupee depreciation against US dollar reflects foreign investor outflows and crude supply disruptions, moderated by weaker dollar and oil prices.
Foreign institutional investor outflows and disruptions in global crude oil supplies placed downward pressure on the rupee against the US dollar. A weaker dollar index and lower Brent crude prices moderated the decline. Market commentary anticipated a narrow trading range, with expected Reserve Bank of India protection at the upper end and oil importer, month-end, and importer demand supporting the lower end. Participants also monitored the US Federal Reserve Chair's Jackson Hole speech.
August 27, 2026
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Emergency flood response measures coordinate rescues, suspend cross-border transport, and address risks to public safety.
Severe flash floods in Nepal and along the Nepal-Tibet border prompted cross-border rescue coordination for missing and stranded persons, warnings of continued downstream flood risk, and international relief support. Preventive public-safety measures included temporary suspension of an Indo-Nepal bus service. Separate developments included disruption of public services during an employee strike, investigation of an aircraft crash, market measures affecting sugar and onion prices, and proposed trade engagement for greater market access for basmati rice and processed food exports.
August 27, 2026
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Regulatory review of fraud allegations requires timely consideration of representations while merits and standing remain undecided.
SEBI must consider and decide, within two weeks, representations alleging fraud by an Indian logistics company and its subsidiary. The allegations concern systematic over-invoicing of freight charges and forged documentation, with a parallel criminal investigation based on an FIR registered by the Delhi Police Economic Offences Wing. No determination has been made on the merits of the allegations or the complainant's standing to approach SEBI. The allegations and criminal proceedings were disclosed in IPO offer documents.
August 27, 2026
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Personal insolvency repayment plans test creditor voting thresholds, valuation safeguards, and limits on commercial review under insolvency law.
Personal insolvency resolution under the Insolvency and Bankruptcy Code involved approval of a repayment plan providing for payment of Rs 6.25 crore to creditors and Rs 25 lakh towards process costs against admitted creditor claims of about Rs 22,006.57 crore. Objections by dissenting creditors were rejected because they held less than 20 per cent of voting share, while the plan received 80.81 per cent support. Valuation indicated that the personal estate was worth less than the amount offered, and the tribunal declined to replace creditor commercial wisdom or assess settlement adequacy.
August 27, 2026
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Sovereign credit rating stability reflects policy continuity, infrastructure investment, external strength, and fiscal consolidation pressures.
India's sovereign credit rating retained a BBB stable outlook, supported by strong growth, an external balance sheet, stable institutions, policy predictability, and infrastructure investment. Public investment and consumer demand are expected to sustain growth and assist fiscal consolidation. Constraints include weak fiscal performance, elevated government debt and interest burdens, and low per-capita income. Long-term rating support depends on financing infrastructure investment without materially widening the current-account deficit and on reducing the fiscal deficit through stable fiscal and monetary policies.
August 27, 2026
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Sugar import liberalisation and stockholding limits seek to moderate retail prices amid constrained domestic supply and restricted exports.
Sugar price-control measures combine duty-free raw sugar imports, stockholding limits for dealers and bulk consumers, and an export prohibition to address elevated retail prices and curb hoarding. Domestic supply remains constrained by reduced sugarcane output, prior exports and diversion of sugar to ethanol. Net production is estimated below projected domestic demand, while closing stocks are expected to remain limited. Import access, inventory restrictions and export controls therefore operate as market-stabilisation mechanisms.
August 27, 2026
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Money-laundering investigation into alleged homebuyer fraud led to searches and freezing of assets linked to realty promoters.
Money-laundering proceedings were initiated under the Prevention of Money Laundering Act on the basis of police FIRs alleging fraudulent inducement and non-delivery of residential plots. Searches at premises linked to real estate promoters resulted in the seizure or freezing of luxury vehicles, jewellery, bank accounts and securities. The investigation alleges that substantial upfront payments for residential plots were received, but a significant portion of promised plots remained undelivered, and certain plots were allegedly sold to third parties without consent.
August 27, 2026
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Commercial card governance enables configurable credit, approvals, virtual cards and controlled supplier payments across enterprise payment workflows.
SpendFlow combines commercial card program configuration, credit management, virtual cards, spend controls, approvals, supplier payments, billing and accounting in one architecture. It supports centrally governed rules with approved corporate-level variations, enterprise hierarchy management, and virtual cards linked to entities, employees, accounts or credit facilities. Multi-tier approvals and virtual-card supplier payments support controlled business payment functions, while core banking and ERP connectivity links card activity with banking and enterprise financial workflows.
August 27, 2026
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Basmati rice market access may be pursued through trade agreement review, subject to import limits and safety standards.
Market access for Indian basmati rice may be pursued through review of the Comprehensive Economic Partnership Agreement, as rice remains a sensitive sector subject to import quantity limits and duties beyond permitted quantities. Processed food exports offer further opportunities where exporters comply with Japanese quality and safety standards. Bilateral cooperation also covers investment, supply chains, technology partnerships and capital flows supporting infrastructure, manufacturing and semiconductor ecosystems.
August 27, 2026
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Capital allocation discipline governs consideration of further Air India funding alongside business strategy, cash flow and investment requirements.
Further capital investment in Air India will be evaluated by Singapore Airlines' board through a disciplined capital-allocation process. Assessment will consider the group's capital requirements, Air India's business strategy, operating cash flow, investment needs for aircraft and products, and multi-hub investments intended to support long-term growth and returns. As a significant minority shareholder, Singapore Airlines supports Air India's transformation programme with Tata Sons, but no commitment to provide additional capital is indicated.
August 27, 2026
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Semiconductor investment cooperation anchors expanded India-Japan industrial partnerships across technology, manufacturing, clean energy, infrastructure, and financial services.
Semiconductor and artificial-intelligence cooperation centres on a six-pillar semiconductor strategy encompassing chip design, semiconductor machinery and materials, fabrication, ATMP/OSAT, research and development, and talent development. Japanese participation is sought across semiconductor materials and equipment, power semiconductors, electronics, AI, logistics and related advanced technologies. Development of semiconductor clusters is linked to reliable power, ultra-pure water, skilled manpower and social infrastructure.
August 27, 2026
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Financial inclusion through basic bank accounts enables direct welfare transfers, digital payments, insurance access and credit for excluded households.
PMJDY provides unbanked adults with basic bank accounts without minimum-balance or maintenance-charge requirements, free RuPay debit cards with accident insurance cover, and eligible overdraft support. Through the JAM framework, PMJDY accounts enable direct transfer of welfare benefits using bank accounts, Aadhaar-based biometric verification and mobile connectivity, reducing intermediary involvement and delays. The scheme emphasises rural, semi-urban, marginalised and women account holders while supporting access to insurance, pensions, savings, digital payments and credit, including MUDRA loans.
August 27, 2026
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Contract food services expansion strengthens Rassense's nationwide institutional operations through new academic partnerships and technology-led service delivery.
Rassense Pvt Ltd reports crossing a workforce of more than 5,000 employees and projects revenue exceeding INR 600 crore. Its contract food services operations serve educational institutions, corporate campuses, healthcare facilities and industrial locations. New operations at IIM Jammu, IIM Bangalore and IIT Guwahati strengthen its nationwide institutional presence. Expansion is supported by academic institution partnerships, local workforce development, operational excellence, and technology-led capabilities in food production, food waste reduction and supply-chain management.

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QCI Announces Next-Generation Quality Reforms to Strengthen India’s Quality Ecosystem

December 24, 2025

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System-wide quality reforms to drive transformation across healthcare, laboratories, MSMEs and manufacturing

QCI unveils Q Mark – Desh ka Haq to strengthen transparency, trust and citizen awareness in the quality ecosystem

The Quality Council of India (QCI) today announced a comprehensive set of next-generation quality reforms on the eve of Sushasan Divas 2025, aimed at strengthening India’s quality ecosystem and advancing the national vision of Viksit Bharat 2047.

Inspired by the vision of Prime Minister Shri Narendra Modi and honouring the legacy of Shri Atal Bihari Vajpayee, the reforms are being implemented under the guidance of the Union Minister of Commerce and Industry, Shri Piyush Goyal.

Drawing from operational experience and evolving stakeholder needs, the reforms are aimed at having a transformative impact across sectors such as healthcare, laboratories, MSMEs and manufacturing.

System-wide reforms to power the quality ecosystem include the unveiling of the Q Mark – Desh ka Haq, a QR-coded Mark of Quality to enable citizens to know their laboratory, hospital and MSME, ensuring full disclosure and eliminating fake certificates.

The reforms mark a shift from inspection to trust through reduced paperwork, shorter timelines, fewer inspections and a low-friction ecosystem based on higher trust. The assessor pool will be expanded across boards and divisions by lowering entry barriers to bring in young experts and strengthen last-mile reach.

QCI is also launching Quality Setu, a secure ticket-based system for time-bound grievance redressal and feedback resolution. A single, paperless, modular one-stop accreditation platform will be launched to replace multiple accreditation portals.

For industry and MSMEs, the reforms focus on empowering India’s economic backbone of over six crore MSMEs. Under the QCI–Industry partnership, QCI will mentor and support Tier-2 and Tier-3 suppliers to achieve ZED and Lean certification, making Indian products ready for global standards. One lakh MSMEs and Self-Help Groups under the ODOP initiative will be trained in quality, packaging and branding in 2026. A Shop Floor Best Practices Playbook for MSMEs will be introduced to familiarise small businesses with global quality practices and strengthen day-to-day shop floor performance. Fees for ZED and Lean certification will be reduced to ensure affordability, access, quality and recognition for last-mile entrepreneurs.

Under NABL reforms for industry and laboratories, QCI aims to position India as the testing capital of the world. A model scope for medical testing laboratories will be introduced to ensure uniformity in accredited scopes. Technical skilling initiatives will train 5,000 laboratory personnel in 2026 to strengthen the national testing ecosystem. Self-declaration for authorised signatories will enable approval of proposed signatories for NABL assessors within 48 hours. Laboratories will be allowed 48-hour scope extensions for similar products, methods, tests or analytes under existing scopes, removing long waiting periods. Additional fees for product-based accreditation will be eliminated where test parameters are already covered.

Under NABH reforms for healthcare, the focus is on driving patient safety in every hospital and every pincode. Direct and trusted guidance will be provided through NABH’s MITRA programme, with trained and verified mentors officially empanelled to guide hospitals, particularly in smaller towns. Accreditation norms will be relaxed by allowing hospitals with 20 per cent occupancy to apply. The penalty framework will shift from blanket bans to graded penalties with guidance and course correction. Gunvatta Pathshala will provide role-based skilling for doctors, nurses and technicians in patient safety and accreditation. Desktop surveillance, including AI-assisted form filling and desk-based monitoring, will be introduced for consistently performing hospitals to reduce on-site inspections.

Under NABCB reforms for certification bodies, measures will be taken to ensure that local products reach global markets. Accredited certification for indigenously manufactured products will be introduced to enable seamless acceptance of Indian products across global supply chains. A Quality Passport for Indian products and services will be launched through globally aligned NABCB-accredited certifications for faster market access. Fast-track accreditation of certification bodies will be undertaken for new-age technology areas such as drones and cybersecurity.

Speaking on the reforms, the Chairman, QCI, Shri Jaxay Shah, stated that aligned with the vision of Hon’ble Prime Minister Shri Narendra Modi for Viksit Bharat 2047 and India’s aspiration to emerge as a Vishwaguru, the next-generation reforms build on QCI’s sustained efforts in recent years to simplify accreditation systems, reduce procedural friction and strengthen trust in India’s quality ecosystem. He said the reforms aim to accelerate processes, reduce turnaround times and leverage technology-driven systems to make quality assurance faster, more transparent and more accessible for enterprises, institutions and citizens across the country.

Over the years, QCI has consistently undertaken structural and process-driven reforms to modernise India’s quality ecosystem and strengthen trust-based governance. These efforts have focused on simplifying accreditation frameworks, reducing procedural complexity, leveraging digital technologies, rationalising inspections and expanding institutional capacity to improve ease of compliance and transparency.

As India advances towards the national vision of Viksit Bharat 2047, these reforms reflect QCI’s commitment to strengthening India’s quality architecture as an enabler of transparent governance, simplified compliance and globally competitive enterprises, positioning quality as a catalyst for sustainable growth, citizen trust and national progress.

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